Elon Musk has officially made history. The Tesla and SpaceX boss has become the first person ever to achieve a net worth of more than $500 billion, according to Forbes’ Real-Time Billionaires Tracker. The record was hit at the beginning of October in New York, when his fortune briefly touched $500.1 billion before dipping slightly to just over $499 billion.
Even after two weeks, the world is still buzzing about the achievement. Musk’s half-trillion-dollar milestone isn’t just another record; it’s a symbol of how fast innovation, technology, and bold leadership can shape the global economy. From electric cars to reusable rockets and AI breakthroughs, Musk continues to redefine what’s possible — and profitable.
Tesla’s Comeback Fueled the Surge
Tesla played a major role in this historic rise. The company’s shares have climbed over 20% this year, with a single 3.3% boost on the day Musk hit the $500 billion mark. Investors seem pleased that he’s now dedicating more focus to Tesla and less to politics, especially after he stepped away from the Department of Government Efficiency (DOGE).
“Elon is front and centre at Tesla again,” said Robyn Denholm, Tesla’s board chair, in September. That renewed attention appears to be paying off, as the EV giant regains momentum against competitors like China’s BYD and others entering the electric vehicle market.
SpaceX Keeps Reaching New Heights
Musk’s second behemoth, SpaceX, has been soaring, both physically and monetarily. The company’s valuation has risen to $400 billion, from $350 billion in late 2024. Musk owns 42% of SpaceX, worth an estimated $168 billion.
SpaceX has made space travel appear more feasible than ever, with reusable rockets and ambitious aspirations for a Mars colony. For Musk, the enterprise is about more than just rockets; it is also about humanity’s destiny beyond Earth.
xAI: Elon Musk’s New Frontier in Artificial Intelligence
Musk’s xAI Holdings, formed by the merging of his AI company xAI with X (previously Twitter), is currently valued at approximately $113 billion. Musk owns 53%, which is almost $60 billion. The move marks Musk’s deep dive into the rapidly growing AI industry. Despite his past warnings about AI’s dangers, he continues to push for innovation while emphasizing safety and ethical control. This blend of caution and ambition has become a signature of Musk’s approach to technology. In layman’s terms, Musk wants xAI to surpass current AI tools, such as chatbots and on-screen assistants, and instead create more comprehensive, general-purpose systems.
How xAI Competes with Tech Giants
Elon Musk’s xAI is stepping into a fierce competition against some of the biggest names in artificial intelligence — including OpenAI, Google DeepMind, and Anthropic. But unlike these companies, Musk’s vision for xAI is to create systems that are not only powerful but also transparent and truthful.
To stand out, xAI is deeply connected with X (formerly Twitter), giving it access to a massive amount of real-world conversations and user behavior. This integration helps xAI train its models with live human data, something competitors don’t have at the same scale.
Inside xAI’s Key Projects and Innovations
In 2025, Musk confirmed that Grok 2.5 was made open-source, allowing developers to study and improve it. The upcoming Grok 3 is expected to push xAI closer to competing directly with OpenAI’s most advanced models.
To support this AI expansion, xAI is also investing in massive infrastructure, including its powerful data center project known as “Colossus.” Located in the U.S., it’s reportedly one of the largest GPU clusters in the world, built to handle the growing demands of AI training.
But xAI’s ambitions don’t stop at software. Musk plans to connect these AI systems with Tesla’s self-driving technology and humanoid robots, moving toward a future where machines can learn, reason, and interact more like humans.
Rivalry at the Top
For now, Musk stands far ahead of his closest competitor, Larry Ellison, founder of Oracle, who holds around $350.7 billion. Ellison briefly overtook Musk last month after Oracle’s shares surged more than 40%, but Musk’s latest milestone puts him back in a commanding lead.
It’s not just a numbers game, though. Musk’s fortune reflects the combined strength of multiple industries: electric vehicles, rockets, social media, and artificial intelligence — all under his vision.
A Record-Breaking Pay Package
Tesla’s board has also proposed a $1 trillion pay package for Musk — the largest in corporate history if he meets certain extreme goals over the next decade. These include increasing Tesla’s value eightfold, selling a million AI robots, and delivering 12 million more cars.
When questioned about the scale of this reward, Musk wrote on X:
“It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots.”
The Journey to Half a Trillion
Elon Musk’s journey to this point has been nothing short of incredible. Just five years ago, in March 2020, his net worth was over $24.6 billion. By August of that year, he had surpassed $100 billion. Then came a quick increase: $200 billion in 2021, $300 billion by the end of the year, and $400 billion by late 2024. Now, at $500 billion, he’s halfway to a trillion. If his companies continue their current pace, Musk could become the world’s first trillionaire by 2033.
Despite criticism for his political ideas and outspoken pronouncements, there is no disputing Elon Musk’s influence. His projects are redefining transportation, space exploration, and artificial intelligence—fields that dictate humanity’s future.
For young innovators watching him, the message is clear: daring ideas, unwavering dedication, and the willingness to push boundaries may change the world — and possibly even make history.
“When something is important enough, you do it even if the odds are not in your favor.” — Elon Musk
